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Unit 1 Texas Contract Law Exam Questions and Answers- Graded A
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Unit 1 Texas Contract Law Exam Questions and Answers
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Unit 1: Texas Contract Law ExamQuestions and Answers
Which of the following is TRUE? - Correct Answers -The Broker-Lawyer Committee
develops forms and recommends their adoption, but it is the TREC that promulgates the
forms for mandatory use.
Which of the following is TRUE? - Correct Answers -The rules of the Texas Real Estate
Commission have the full force and effect of law.
Which of the following is NOT a promulgated TREC form? - Correct Answers -The
answer is deed. The deed is not promulgated by TREC; it is a document prepared by an
attorney that is executed at closing.
A real estate broker modifies a 1992 TREC-promulgated contract form and updates it to
fit a particular transaction. Which of the following could happen? - Correct Answers -The
broker could have his license suspended or revoked for practicing law.
What is the make-up of the Broker-Lawyer Committee? - Correct Answers -Six brokers,
six lawyers, and one member of the general public
Real estate brokers who are members of the Broker-Lawyer Committee become
members by being - Correct Answers -appointed by the Texas Real Estate
Commission.
A property sells for $25,000, and the dwelling built thereon is only valued at $1,000.
What does Section 5.008 of the Texas Property Code say about this situation? - Correct
Answers -It does not require the seller to provide a written notice of the property's
condition.
A license holder who completes a contract for the sale of real property is not engaged in
the unauthorized practice of law if the license holder uses a form that is - Correct
Answers -The answer is all of these. Notwithstanding any other law, a license or
certificate holder who completes a contract form for the sale, exchange, option, or lease
of an interest in real property incidental to acting as a broker is not engaged in the
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